A collection of news and insights about our firm and developments in the law, finance and insolvency industries
The company liquidation process (a creditor’s voluntary liquidation for insolvent companies) can be a long and winding road for company directors. While directors might get to appoint the liquidator, they don’t owe the directors or owners any legal duties, so it is best to pick an ethical and commercially-minded liquidator. If you pick a “salesman” […]
Discretionary trust A trust is a legally recognised relationship by which someone (trustee) holds property for the benefit of another (beneficiary). A discretionary trust is a type of trust which gives the trustee the power to decide which of the beneficiaries are to benefit from the trust, and to what extent – essentially, they have […]
Yes, the title is a bit tongue in cheek! La La Land is a movie about a couple meeting and falling in love (while pursuing their dreams). Suicide Squad is another movie that is half comedy and half action blockbuster. Both movies have nothing to do with insolvency law in Australia. The takeaway is that […]
Summary Phoenix activity is the ‘rebirthing’ of an enterprise by stripping one company of its assets and transferring them into a new entity which is essentially the same business Phoenix activity is often, but not always, illegal Existing law is available to crack down on illegal phoenix activity, but enforcement is weak. The new phoenix […]
Sewell & Kettle are proud to support the efforts of Cure Cancer Australia. On Friday 5 October 2018 our firm held a charity fundraiser for Cure Cancer Australia at Sokyo restaurant at the Star. Which charity was supported? All monies raised by donations and the charity auction were donated directly to Cure Cancer Australia (https://www.curecancer.com.au/). […]
Summary Pursuant to section 459G of the Corporations Act 2001 (Cth) a company may apply to have a statutory demand set aside within 21 days of its service. The application must be supported by an affidavit filed with the Court and served on the other party. Under the Corporations Act 2001 (Cth) there are 4 […]
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